The principal items before the iter Conference will be the reduction China's armies from 89 to 60 80 military expenses with a budget, The test will be held ig of the con crows afer four o'clock The new muta will probably be the most fin portant and revol tionary legislation to be adopted the Nativnal Government, Value tion Land-tax is to. be collected accordance with the value of the property. When the Jnnd-owners yogister at the Government land-they are to state the value of their land. The Government authorities will revatue their land and will collect taxes according to the land-values estimated by. the Government, If it considers nitoes sary, the Government may take over Tani! owned by private individuals and compensate the latter ageordanee with the _reyiateret values stated by the owners, not the Government valuation. it' follows that if owners over-value their proerty they have to pay higher taxes, and if they undervalue st, the Government will either collect taxes according to its own estimates or take over the land.
A question of Mdorable debate among the leaders of the Party and Government has been whether or not the Govern Jand-tax as high as 10 per cent. is believed that unless the Govern= ment collects such high taxes, the value of land can Drought down so that almost a person can own, land and) that Speculation will be checked. Th anajority of the leaders, however, are in favour of light taxes in the Deiuning, proposing that they be that one-third of the the Govern. eased until the 100. pere be rate enforced.
Text read from the printed page and cleaned; old type leaves the occasional error.